HMRC has updated its late payment interest rates following the Bank of England's decision to raise its base rate to 1.75%. As HMRC late payment rates are linked to the Bank of England base rate, its interest rates will also increase to 0.75%. The repayment rate, set in legislation, is set at Bank … [Read more...]
News for: General Business News
Recovery Loan Scheme and growth forecasts are Hallidays’ top financial headlines in August
The relaunched Recovery Loan Scheme and IMF growth forecasts are the top financial headlines in August as Stockport accountancy firm, Hallidays, share their run down of the key stories for business this month. Recovery Loan Scheme to be relaunchedThe Recovery Loan Scheme (RLS) will be relaunched … [Read more...]
Sixth consecutive rise brings interest rate to 1.75%
The Bank of England's Monetary Policy Committee has agreed to increase the base interest rate to 1.75%, the sixth consecutive rise. Economists at the Bank of England voted 8-1 in favour of the 0.5 percentage point increase, putting rates at their highest since January 2009 at the beginning of the … [Read more...]
New funding announced to boost overseas recognition of professional qualifications
The UK government has announced it will offer grants up to £75,000 to help regulators and business organisations have professional qualifications recognised overseas. The move aims to help boost exports within the service industries and make it easier for accountants, lawyers, architects and … [Read more...]
Details released of latest Recovery Loan Scheme
Details have been released of the latest iteration of the government-backed Recovery Loan Scheme to help businesses invest and grow out of the Covid-19 pandemic. The scheme, which was launched in April 2021, was extended by the Chancellor for a further two years in July after having already … [Read more...]
HSBC and Taylor Wimpey become latest to offer Cost of Living payments to workforce
High-street bank HSBC, and housebuilder Taylor Wimpey have joined the growing number of UK businesses supporting their lower-paid workers with one-off Cost of Living Payments. In announcing their latest half-year results, Taylor Wimpey has revealed the business will make a cost of living payment … [Read more...]
New type of pension scheme launches
A new type of pension scheme has launched, with applications now open from 1st August in Great Britain. Collective Defined Contribution (CDC) pension schemes aim to offer improved retirement returns for savers, with more predictable costs for employers as an alternative to the two existing models … [Read more...]
New government guidance published to clarify workers’ employment status and rights
New guidance published by the government aims to help businesses and workers gain clarity over their employment status and rights. A person’s employment status is what defines the rights and employment protections they are entitled to at work including pay, leave, and working conditions and … [Read more...]
More than a million businesses now eligible software discounts through Help to Grow: Digital scheme
Businesses with 1 to 249 employees can access discounts worth up to £5,000 on approved Customer Relationship Management (CRM) and eCommerce software as part of an expansion of the Help to Grow: Digital programme. The flagship scheme aims to support SMEs to increase their productivity by allowing … [Read more...]
Treasury announces plans to ensure lower earners are not missing out on income when making pension contributions
HM Treasury has announced plans to give 1.2 million earners paying into pension schemes via a Net Pay Arrangements a top-up to their take-home pay. The Treasury plans to close a loop-hole in the pensions system that means those earning below their personal tax allowance who have pension … [Read more...]
Covid Recovery Loan Scheme extended for further two years
A support scheme to help small businesses access finance to aid their recovery following the Covid pandemic has been extended for a further two years, Business Secretary Kwasi Kwarteng has announced. The Recovery Loan Scheme originally launched in April 2021 to help businesses recovering from the … [Read more...]
Two million more women in work since 2010, reveals latest employment data
There are now 15.7 million women in work in the UK, latest ONS employment data has revealed, marking an increase of 2 million on 2010 figures. The latest employment figures also revealed that in the last 12 years, the number of women in high-skilled, STEM, management and director-level roles have … [Read more...]
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